Aergo Capital acquires nine aircraft worth $250 million

By admin
July 12, 2016 10:41

This week, Aergo Capital has announced the acquisition of nine aircraft: two 737-900ERs, six A320-200s and one 767-300ER worth a total valuation of $250 million.

Aergo Capital has purchased two 737-900ERs from PT Lion Mentari, operating as Lion Air. The acquisition was facilitated by Transportation Partners. The aircraft will continue to be operated by Lion Air on domestic and international commercial routes. This acquisition brings Aergo’s fleet to 26 aircraft (including owned aircraft and aircraft under management).

Aergo Capital’s CEO Fred Browne said “We are delighted to close another transaction with the Lion Air Group and we are looking forward to working with Lion Air as it expands its international operations.”

John Duffy, Chief Operating Officer of Transportation Partners, remarked, “On behalf of Transportation Partners, I would like to say that I’m delighted to work with Aergo in finding another investor for the 737-900ER.”

Aergo Capital has also purchased six A320-200 passenger aircraft from B. aircraft A.S., an affiliate of Czech Aeroholding, through IAM Aviation. The aircraft will continue to be operated by Pakistan International Airlines Corporation Limited on domestic and international commercial routes.

Browne said “We are delighted to close this transaction and expand our presence in Asia. We are looking forward to working with PIA as the airline continues to grow its network.”
Pakistan International Airlines’ Chief Executive Officer, Bernd Hildenbrand appreciated the deal and said “PIA would be happy to deal with a leasing company of sound international standing” and added “this will simplify the airline’s lease related procedures and make things happen faster”.

Aergo Capital has also added a 767-300ER to its portfolio with the acquisition of the aircraft on lease to Air Italy from FLY Leasing. The transaction was originated and managed by BBAM. The aircraft will continue to be operated by Air Italy on international commercial routes.

Browne said “We are delighted to close this transaction with BBAM & Air Italy and to expand our presence in Europe. We are looking forward to working with Air Italy as the airline continues to grow its network under the Meridiana brand.”

“BBAM is pleased to have worked with Aergo Capital and Air Italy on this transaction,” said Steve Zissis, CEO of BBAM. “This is an example of BBAM’s innovative thinking combined with its deep industry experience to develop an outcome that meets the needs of a diverse client base.”